Top 5 Tax Deductions for LLCs
In this video I discuss the top 5 tax deductions that you should be taking as a new or existing business owner.
1️⃣ Startup & Organizational Costs
2️⃣ Cell Phone & Internet Service
3️⃣ Home Office Deduction
4️⃣ Auto Deduction
5️⃣ S Corp Election
📁 Setup your LLC or Corporation 📁
FileYourBusiness.com: www.fileyourbusiness.com/
Inc Authority: bit.ly/incauthoritycoupon
IncFile: bit.ly/incfilecoupon
ZenBusiness: bit.ly/zenbusinesscoupon
📋 Join My Course Waitlist 📋
navimarajcpa.com/learn/
⏱ Timestamps ⏱
00:00 Topic - Top 5 Tax Deductions for New and Existing Business Owners.
00:29 Startup & Organizational Costs
02:57 Cell Phone & Internet
04:10 Home Office Deduction
07:25 Auto Deduction
09:32 S Corp Election
12:30 Content on NaviMarajCPA.com
If you learned something from this video, please like and subscribe and follow me on my various social media handles below. If you would like to contact me with a specific question, please visit my website or leave me a comment.
Website: www.navimarajcpa.com
Email: navi@navimarajcpa.com
Instagram: / navimarajcpa
LinkedIn: / navimarajcpa
Twitter: / navimarajcpa
Facebook: / navi-maraj-cpa-pllc-10...
🎬 My Video & Audio Gear List 🎬
Sony ZV-1: amzn.to/3i7SYcm
SanDisk 128GB Extreme PRO SDXC: amzn.to/3c6fvm6
SanDisk 256GB Extreme PRO SDXC: amzn.to/3wORFTs
Elgato Cam Link 4k: amzn.to/3p8EKJq
Amazon Basics Flexible and Durable Micro HDMI to HDMI Cable: amzn.to/3yP4dfF
Anker 4-Port USB 3.0 Hub: amzn.to/3yTjKev
Rode VideoMicro Compact On-Camera Microphone with Rycote Lyre Shock Mount: amzn.to/2Tn0iX0
Gonine DK-X1 DC Coupler AC-LS5 AC Power Adapter Kit Replacement for NP-BX1 Dummy Battery: amzn.to/3vEbZHf
SMALLRIG Cool Ballhead Arm Super Clamp: amzn.to/2R99jCt
SMALLRIG Camera Cage for Sony ZV1 Camera: amzn.to/3uASs9m
Camtasia screen capture and video editing software: www.techsmith.com/video-edito...
This video was created for informational purposes and it is not to be construed as legal and tax advice specific to your unique situation. The above links to my video and audio gear are affiliate links. Some of the links above are affiliate links which means that if you purchase a product or service with the provided link, I may receive a commission with no additional cost to you.
© Navi Maraj CPA PLLC. All rights reserved.
#TaxDeductions #LLC #SCorp
Пікірлер: 12
Very informative! Thank you for making this video.
@NaviMarajCPA
2 жыл бұрын
You're welcome @Falcon Constructions. Glad you found it helpful and informative.
Love the videos! I recently got my real estate license and have been watching your videos, you give great info!
@NaviMarajCPA
3 жыл бұрын
Appreciate the feedback Christian! Glad you are learning.
Thank you very much for the enlightenment!!! Great Videos!!!
@NaviMarajCPA
Жыл бұрын
You're welcome Gato! Thanks for the feedback.
Thank you for the 💎 Subscribed!!! Do you work with California? Thanks
@NaviMarajCPA
2 жыл бұрын
Thanks for subscribing @Rsingh. Yes, I have clients in CA.
Navi ! Great content ! What is you have two, separate, home offices (2 different businesses) in the same house? Is that allowed? There are two separate Schedule C’s. I own 1 business and my wife owns her different business separately. Can each office be deducted? Thank you
@NaviMarajCPA
3 жыл бұрын
Yup! Both can be deducted but be sure you’re using the same method for both. Simplified for both or regular for both.
Navi, I just formed an LLC filing as S corp (contracte dentist) approved Jan 2024 but have not made any money yet but I was working last year part time as a W2 in another practice. However, I have incurred a bunch of start up costs and organization costs to set up my LLC beginning last year. If I don't file this year as S corp since I haven't made any money with my LLC, am I still able to take any of these deductions? I have been looking for info every where and I can't figure it out. Thanks in advance!